Financials Enel S.p.A.

Equities

ENEL

IT0003128367

Electric Utilities

Market Closed - Borsa Italiana Other stock markets 11:44:59 2025-01-17 am EST			5-day change	1st Jan Change
7.156 ^EUR	+0.73%		+2.67%	+3.92%

Jan. 17	Edison starts partnership for mini reactors in factories	AN
Jan. 14	Campari, Enel, FinecoBank, Iveco and UniCredit "best pick 2025" for Equita	RE

Projected Income Statement: Enel S.p.A.

income-statement-evolution-chart ENEL-S-P-A

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	80,327	64,985	88,006	140,517	95,565	90,072	90,232	93,333
Change	-	-19.1%	35.43%	59.67%	-31.99%	-5.75%	0.18%	3.44%
EBITDA ¹	17,905	17,940	19,210	19,683	21,969	22,873	22,926	23,525
Change	-	0.2%	7.08%	2.46%	11.61%	4.11%	0.23%	2.61%
EBIT ¹	6,878	8,368	7,680	11,193	14,042	15,148	14,924	15,275
Change	-	21.66%	-8.22%	45.74%	25.45%	7.88%	-1.48%	2.35%
Interest Paid ¹	-2,444	-2,606	-2,751	-2,456	-3,375	-3,174	-3,069	-3,163
Earnings before Tax (EBT) ¹	4,312	5,463	5,500	8,741	7,416	12,178	11,973	12,241
Change	-	26.69%	0.68%	58.93%	-15.16%	64.21%	-1.68%	2.24%
Net income ¹	2,174	2,610	3,189	1,682	3,438	6,948	6,889	7,006
Change	-	20.06%	22.18%	-47.26%	104.4%	102.09%	-0.85%	1.69%
Announcement Date	3/19/20	3/18/21	3/17/22	3/16/23	3/21/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	23,203	19,985	13,390	14,675	16,935	17,107	12,746	28,061	30,092	34,958	32,300	40,919	32,340	26,414	20,681	22,439	26,031	19,432	19,299	18,903	39,108
Change	-	-13.87%	-33%	9.6%	15.4%	1.02%	-25.49%	120.16%	7.24%	16.17%	-7.6%	26.68%	-20.97%	-18.32%	-21.7%	8.5%	16.01%	-25.35%	-0.68%	-2.05%	106.89%
EBITDA ¹	4,637	4,741	4,053	4,352	4,794	4,159	4,201	4,271	6,579	4,486	3,812	4,373	7,012	5,463	5,276	5,647	5,583	6,094	5,587	5,768	5,154
Change	-	2.24%	-14.51%	7.38%	10.16%	-13.25%	1.01%	1.67%	54.04%	-31.81%	-15.02%	14.72%	60.35%	-22.09%	-3.42%	7.03%	-1.13%	9.15%	-8.32%	3.24%	-10.64%
EBIT	2,679	3,109	1,434	2,432	1,393	2,525	1,846	1,883	1,426	2,679	1,223	1,619	5,672	2,951	3,174	3,710	4,207	4,001	3,861	3,740	-
Change	-	16.05%	-53.88%	69.6%	-42.72%	81.26%	-26.89%	2%	-24.27%	87.87%	-54.35%	32.38%	250.34%	-47.97%	7.56%	16.89%	13.4%	-4.9%	-3.5%	-3.13%	-100%
Charge d'intérêts ¹	-443	-618	-501	-606	-881	-421	-640	-691	-999	-411	-609	-703	-733	-2,604	-756	-875	-	-734	-851	-971	-912
Earnings before Tax (EBT) ¹	2,122	2,488	949	1,818	208	2,138	1,310	1,482	570	2,311	633	909	4,888	-	2,433	-	-	3,268	4,139	3,005	2,188
Change	-	17.25%	-61.86%	91.57%	-88.56%	927.88%	-38.73%	13.13%	-61.54%	305.44%	-72.61%	43.6%	437.73%	-100%	-	-100%	-	-	26.65%	-27.4%	-27.19%
Net income ¹	1,361	1,247	700	974	-311	1,176	602	727	684	1,430	263	66	-77	-	1,479	1,740	-	1,931	2,213	1,726	1,355
Change	-	-8.38%	-43.87%	39.14%	-	-	-48.81%	20.76%	-5.91%	109.06%	-81.61%	-74.9%	-	-100%	-	17.65%	-100%	-	14.6%	-22.01%	-21.49%
Announcement Date	3/19/20	5/6/20	7/29/20	11/5/20	3/18/21	5/6/21	7/29/21	11/4/21	3/17/22	5/4/22	7/28/22	11/3/22	3/16/23	5/3/23	7/27/23	11/7/23	3/21/24	5/9/24	7/25/24	11/6/24	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 S1	2021 S1	2022 S1	2023 S1	2024 S1
Net sales ¹	33,375	29,853	-	47,095	38,731
Change	-	-10.55%	-100%	-	-17.76%
EBITDA ¹	8,794	8,360	8,298	10,739	11,681
Change	-	-4.94%	-0.74%	29.42%	8.77%
EBIT ¹	4,543	4,371	3,902	6,125	7,862
Change	-	-3.79%	-10.73%	56.97%	28.36%
Charge d'intérêts ¹	-1,119	-1,061	-1,020	-1,621	-1,585
Earnings before Tax (EBT) ¹	3,437	3,448	2,944	4,531	7,407
Change	-	0.32%	-14.62%	53.91%	63.47%
Net income ¹	1,947	1,778	1,693	2,513	4,144
Change	-	-8.68%	-4.78%	48.43%	64.9%
Announcement Date	7/29/20	7/29/21	7/28/22	7/27/23	7/25/24

¹EUR in Million

Estimates

Forecast Balance Sheet: Enel S.p.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	45,175	45,415	51,952	60,068	60,163	55,219	56,402	57,653
Change	-	0.53%	14.39%	15.62%	0.16%	-8.22%	2.14%	2.22%
Announcement Date	3/19/20	3/18/21	3/17/22	3/16/23	3/21/24	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Enel S.p.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	10,000	10,197	12,997	14,347	12,714	11,192	12,755	13,372
Change	-	1.97%	27.46%	10.39%	-11.38%	-11.97%	13.97%	4.83%
Free Cash Flow (FCF) ¹	1,700	1,311	-2,928	-5,673	1,906	5,066	3,890	3,771
Change	-	-22.88%	-323.34%	93.75%	-133.6%	165.79%	-23.21%	-3.05%
Announcement Date	3/19/20	3/18/21	3/17/22	3/16/23	3/21/24	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Enel S.p.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	22.29%	27.61%	21.83%	14.01%	22.99%	25.39%	25.41%	25.21%
EBIT Margin (%)	8.56%	12.88%	8.73%	7.97%	14.69%	16.82%	16.54%	16.37%
EBT Margin (%)	5.37%	8.41%	6.25%	6.22%	7.76%	13.52%	13.27%	13.12%
Net margin (%)	2.71%	4.02%	3.62%	1.2%	3.6%	7.71%	7.63%	7.51%
FCF margin (%)	2.12%	2.02%	-3.33%	-4.04%	1.99%	5.62%	4.31%	4.04%
FCF / Net Income (%)	78.2%	50.23%	-91.82%	-337.28%	55.44%	72.91%	56.47%	53.83%
Profitability
ROA	2.83%	3.1%	3.02%	2.53%	3.14%	4.07%	4.03%	4.07%
ROE	15.35%	17.71%	19.29%	18.49%	21.55%	19.94%	18.86%	18.25%
Financial Health
Leverage (Debt/EBITDA)	2.52x	2.53x	2.7x	3.05x	2.74x	2.41x	2.46x	2.45x
Debt / Free cash flow	26.57x	34.64x	-17.74x	-10.59x	31.57x	10.9x	14.5x	15.29x
Capital Intensity
CAPEX / Current Assets (%)	12.45%	15.69%	14.77%	10.21%	13.3%	12.43%	14.14%	14.33%
CAPEX / EBITDA (%)	55.85%	56.84%	67.66%	72.89%	57.87%	48.93%	55.64%	56.84%
CAPEX / FCF (%)	588.24%	777.8%	-443.89%	-252.9%	667.05%	220.92%	327.9%	354.56%
Items per share
Cash flow per share ¹	1.087	1.146	0.9788	0.8532	1.361	1.48	1.518	1.539
Change	-	5.48%	-14.62%	-12.83%	59.49%	8.79%	2.54%	1.37%
Dividend per Share ¹	0.32	0.358	0.38	0.4	0.43	0.4566	0.4716	0.4832
Change	-	11.87%	6.15%	5.26%	7.5%	6.19%	3.28%	2.46%
Book Value Per Share ¹	2.934	2.79	2.918	2.821	3.126	3.424	3.633	3.83
Change	-	-4.92%	4.58%	-3.33%	10.83%	9.53%	6.1%	5.42%
EPS ¹	0.47	0.26	0.31	0.15	0.32	0.6858	0.6801	0.6916
Change	-	-44.68%	19.23%	-51.61%	113.33%	114.32%	-0.84%	1.69%
Nbr of stocks (in thousands)	10,164,612	10,163,411	10,161,791	10,159,782	10,157,604	10,155,106	10,155,106	10,155,106
Announcement Date	3/19/20	3/18/21	3/17/22	3/16/23	3/21/24	-	-	-